Germany pushes G7 to regulate exchange rates
German Chancellor Friedrich Merz called for urgent international talks to enhance the stability of currency exchange rates, as part of the European Union's efforts to address its trade deficit with China. He considered that currencies undervalued relative to their true worth harm European competitiveness. He emphasized the importance of coordination among countries to correct global imbalances, reaffirming that policies of support and subsidies that boost excess production create unacceptable competitive imbalances. Europe aims to protect its economic interests without igniting a trade war. His efforts received support from the United States, while China fears a repetition of past crises due to sudden currency policies.
Notice: This Is an AI-Generated Summary
Comments (0)